Biotechnology

Company Overview of Avelas BioSciences, Inc.

Company Overview

Avelas BioSciences, Inc. is a clinical stage biotechnology company that focuses on developing technologies that advance care for cancer surgery and therapeutic intervention. It develops AVB-620, an intravenously administered in vivo fluorescent protease-activatable peptide that detects, marks, and diagnoses cancer. The company was incorporated in 2008 and is based in La Jolla, California.

Avelas BioSciences, Inc. Key Developments

Avelas Biosciences, Inc. announced that, the first patient has been dosed in its Phase 2 clinical trial of AVB-620 in women with primary, nonrecurrent breast cancer undergoing surgery. This open-label, single-arm, Phase 2 study of AVB-620 is designed to evaluate 100 patients during two separate trial periods. Period 1 will have approximately 30 patients to evaluate conditions to achieve maximal differences in fluorescent signals between malignant and nonmalignant tissue. Period 2 will assess approximately 70 patients to test dosing and imaging conditions determined in Period 1, and the accuracy of AVB-620 imaging data to distinguish between malignant and nonmalignant tissues.

Avelas Biosciences, Inc. announced the appointment of Steven Chen, M.D., as chief medical officer of the company. Dr. Chen originally joined Avelas Biosciences in July 2014 as the vice president of clinical affairs. Dr. Chen previously served as the chief of breast surgery at UC Davis Medical Center, followed by a position as an associate professor of surgery and as the associate program director of the surgical oncology training program at City of Hope National Medical Center in Duarte, California.

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